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Ready to retire finally

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Money Talk > Retirement Planning

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Rusty
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Joined: 29 Dec 2015
Location: St. Louis Mo.
Ready to retire finally  Reply with quote  

I'm 66 years old and about to retire. I was a warehouse worker all my life, I have accumulated a decent 401k and lump sum option for my pension or I can take an annuity. I have absolutely no idea of how to invest it after I retire. I have talked with an advisor at ACROPOLIS investments near my home in the St. Louis area. I can't seem to find much information about them.
I really liked their proposal on how they plan to invest my money. I have also talked to three other firms ( Fidelity- Vanguard- Morgan Stanley).
Anyone invest with Acropolis or have advice about them

I have 1 million plus to invest ($700,000 401k, $350'000 lump sum, $70,000 savings) House is paid for and no other debt.
Acropolis asset target allocation per my preference is 3 % cash. 30 % stock (21% domestic,7% international 2% REIT)
67 % bonds ( Aggregate 17% Gov. 10%. Credit 17%. Morgage 6.5% Tips 6.5% Global 10%) They will make adjustments with my signature

I received a similar proposal from VANGUARD and their fee is REALLY-REALLY LOW. I have always believed in the saying " you get what you pay for" could this be true for using Vanguard ?

PS If I don,t take the lump sum option I will draw $1500 per month annunity with my wife drawing the same if I die first. After we both die the annunity ends. With what has happened to some company annuities recently, I'm afraid to take the annunity plus if we both die soon the money goes back to the company.

HISTORY.
For the 35 years I had my 401k, I moved money to and around Mid Cap. Small Cap. Large cap International fund and
Balanced fund. This last 18 months I went to 100% interest income which is a safe 2.235% return after management fees. I have been able to sleep much better these last 18 months so this is why I want someone else to manage my account.
Post Tue Dec 29, 2015 4:39 am
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sunjava
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Cash: $ 1.30

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Joined: 28 Dec 2015
Location: Texas
You Can check this out  Reply with quote  

This company would be the right place to invest your money. They have the best customer satisfaction with best ROI so far.
No body can give your up-to-date information about any investment company here. I advise you to try to call them and ask them your peculiar questions. Your financial needs may not be same as mine but it is always good if you try to ask the experts that are tested and trusted by BBB and TrustLink. Anyway, you can try to ask this company if their service appeal to you.

http://bit.ly/1UeVLuz
1-844-279-3364

I wish you the best in your investment decision.
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Post Tue Dec 29, 2015 11:41 am
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oldguy
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Location: arizona
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[/quote]Acropolis asset target allocation per my preference is 3 % cash. 30 % stock (21% domestic,7% international 2% REIT)
67 % bonds ( Aggregate 17% Gov. 10%. Credit 17%. Morgage 6.5% Tips 6.5% Global 10%) They will make adjustments with my signature
quote:


The full-service companies are pricey - Edward Jones is the bigger, well known national version. Acropolis isn't a broker, they hire someone to buy/sell the holdings. So , in addition to their 1% fee, you'll pay the 1.5% brokerage fee, plus a usual expense ratio. You may not want to pay for that much hand-holding, you can buy those products at any one of the Big 3 no-load fund companies - Vanguard, Fidelity, TR Price - and also at Chas Schwab, and others.

You're retirement age - but for the younger readers, here is a comparison. $5000/yr invested at 11%/yr and a 1/2% fee equals $1,000,000 in 30 years. With a 2.5% fee it equals $674,000 in 30 years. So it is worthwhile to self-manage your accounts thru one of the major no-load companies.

The allocation is OK, but unnecessary. Eg, what good is 2% in a REIT? That's only $20,000, if it happened to be a home-run and double, it only adds $20,000 to your million - ie, you may as well have the whole million in a safe 2% investment. Usually when a company breaks your money into little 2% or 3% chunks it's just for show, it is way too much diversification.


I'm afraid to take the annunity plus if we both die soon the money goes back to the company.
quote:


I avoid annuities, the life insurance companies push them - but it's because they are a very high-profit product for the salesman, not a good product for the buyer. As for the money going back to the company - the day that you buy an annuity the money is GONE, you spent it - you bought a promise that the life insurance company will pay you monthly.
Post Tue Dec 29, 2015 4:28 pm
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